Someone Actually Bought This City Car Park Space For £521,372

One of the hardest burdens that millennials seem to be facing is the ability to buy that first house, but take a second to think about how it might be even harder to do so in Hong Kong, where the price of a parking space is probably more than a penthouse suite in Birmingham.

The world record for a parking space purchase was recently broken by an unnamed executive director of an investment firm in the city who decided to pay $664,260 (£521,372) for the privilege. He already has two spaces in the same luxury apartment complex on the island, naturally.

To put this into some context – not that it really needs any – this makes the parking space cost about $3500 per square foot. Last year, apartments in New York City went for an average price of $1750 per square foot, and that’s one of the most overpriced real estate markets in the world.